Updated Oct 29, 2024
Old Three Hundred Capital & ArrowMark Partners Secures $27.1M Loan On Austin Multifamily Property
2302 East William Cannon Drive, Austin, TX 78744
$27,100,000
$117/SF
Building Size
230,000 SF
Asset Type
MultiFamily
Closing
Oct 18, 2020
About this deal
AI
The multifamily property located at 2302 E. William Cannon Drive in Austin was recently involved in a closed transaction. The property spans over 230,000 square feet and consists of 230 units. The deal took place on October 19, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,100,000
- Address: 2302 E. William Cannon Drive, Austin
- Market: Austin
- Loan: Prime Finance
The borrower in this transaction was Old Three Hundred Capital and ArrowMark Partners. The loan amount secured for this deal was $27,100,000. The brokers involved in this transaction were Marko Kazanjian, Chris McColpin, Rob Hinckley, Jackson Finch, and Andrew Cohen from JLL, as well as Rob Brown and Nathan Rillstone from ArrowMark Partners.
On the Map
$27,100,000
$117/SF
MultiFamily
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Players
Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93